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HomeMy WebLinkAbout05-03-07 (2) FINAL DISTRIBUTION IN ESTATE OF NICHOLAS C. KIRITSIS KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, NICHOLAS C. KIRITSIS, late of 100 Howard Street, Enola, Cumberland County, Pennsylvania, deceased, died testate on October 4, 2006; WHEREAS, letters testamentary for the estate of the said decedent were duly issued on October 12, 2006, by the Register of Wills of Cumberland County, Pennsylvania, to WILLIAM C. KOLLAS, Executor, hereinafter called personal representative, for the Estate of NICHOLAS C. KIRITSIS, Number 2006-00896; WHEREAS, a Partial Family Settlement and Final Release dated February 24,2007, was executed by all heirs of the Estate of Nicholas C. Kiritsis; NOW THEREFORE, KNOW YE, the heirs of the Estate of Nicholas C. Kiritsis shall receive the following final distribution which is less the 15% tax rate. A copy o~t!Ie InheritAAce Tax Return is attached and marked as Exhibit "A". Christopher Kiritsis Paul Kiritsis Constantine Wood Peter Wood Jonathan Wood Christopher Chekouras $14,708.00 $14,708.00 $14,708.00 $14,708.00 $14,708.00 $14,708.00 CJ r'o) r~", ~J; AND, as agreed upon by the heirs ofthe Estate of Nicholas C. Kiritsis in the Partial Family Settlement and Final Release dated February 24, 2007, Tina Beam, daughter of Nicholas C. Kiritsis shall receive the sum of$9, 550.00 which is less the 4 ~ % tax. \ ~ . -} rd IN WITNESS WHEREOF, I have hereunto set my hand and seal this .] day of mar ,2007. W~/?M i/' '. ~ (SEAL) William C. Kollas, Executor for the Estate of Nicholas C. Kiritsis COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF CUMBERLAND On this, the 3c4. day of maJ ,2007, before me, a Notary Public, the undersigned officer, personally appear~LLIAM C. KOLLAS, Executor for the Estate of Nicholas C. Kiritsis, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purpose therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. NOTARIAL SEAL CAROLE A ROSE Notary Public TWSP OF LOWER ALLEN CUMBERlAND COUNTY M Commission Ex res Oct 21. 2007 ~Q. (20~ otary PublIc My Commission Expires: Od . 2)( z.aJ7 -.J 15056051058 REV-1500 EX (06-05) PA Department of Revenue '* Bureau of Individual Taxes PO BOX 280601 Harrisburg, PA 17128-0601 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY County Code Year File Number 21 06 00896 Date of Birth 159-26-1207 10/04/2006 04/01/1933 Decedent's Last Name Suffix Decedent's First Name MI Kiritsis Nicholas C (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW a: 1. Original Return 2. Supplemental Return 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach Copy of Trust) 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number 4. Limited Estate . 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received 8. Total Number of Safe Deposit Boxes William C. Kollas (717) 731-1600 Firm Name (If Applicable) Kollas and Kennedy REGISTER OF WILLS USE ONLY First line of address 1104 Fernwood Avenue Second line of address Suite 104 City or Post Office State ZIP Code DATE FILED Camp Hill PA 17011 Correspondent's e-mail address: Under penalties of perjury, I declare that I have examined this retum, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIG :rURE OF PERSO RES ONSIBLE FOR FILING RETURN DATE I 5 3107 ~ ADDRESS . ~I~~U~~~~R ~~R~~~EP~~~~T:PIV!k 11. PIi- liOll DATE ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 L 15056051058 15056051058 --.J -.J 15056052059 REV-1500 EX Decedent's Name: Nicholas C Kiritsis RECAPITULATION 1. Real estate (Schedule A). ..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1. 2. Stocks and Bonds (Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . . . .. 3. 4. Mortgages & Notes Receivable (Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . . . . . . .. 5. 6. Jointly Owned Property (Schedule F) Separate Billing Requested . . . . . .. 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) Separate Billing Requested. . . . . . .. 7. 8. Total Gross Assets (total Lines 1-7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8. 9. Funeral Expenses & Administrative Costs (Schedule H). . . . . . . . . . . . . . . . . . . .. 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). . . . . . . . . . . . . . . . 10. 11. Total Deductions (total Lines 9 & 10).................................. . 11. 12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . . . . . . . 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) .. . . . . . . . . . . . . . . . . . . . . . . 14. TAX COMPUTATION. SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0_ 16. Amount of Line 14 taxable at lineal rate X.O 45 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 15. 10,000.00 16. 17. 103,823.00 18. 19. TAX DUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT L 15056052059 Side 2 159-26-1207 Decedent's Social Security Number 94,592.63 40,537.15 135,129.78 10,082.00 11,225.15 21,307.00 113,822.78 113,822.78 450.00 15,573.00 16,023.00 15056052059 --.J REV-1500 EX Page 3 Decedent's Complete Address: 21 File Number 06 00896 " DECEDENT'S NAME DECEDENT'S SOCIAL SECURITY NUMBER Nicholas C Kiritsis 159-26-1207 STREET ADDRESS 100 Howard Street CITY I STATE I ZIP Enola PA 17025 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) (1) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount 16,023.00 Total Credits ( A + B + C ) (2) 0.00 3. Interest/Penalty if applicable D. Interest E. Penalty Total Interest/Penalty ( D + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 16,023.00 A. Enter the interest on the tax due. B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5A) (5B) 16,023.00 Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred;.......................................................................................... D [iJ b. retain the right to designate who shall use the property transferred or its income; ............................................ D [iJ c. retain a reversionary interest; or.......................................................................................................................... D Ii] d. receive the promise for life of either payments, benefits or care? ...................................................................... D Iil 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. D [iJ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?............. D [iJ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ D [iJ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. ~9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX+ (6-9. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF Nicholas C. Kiritsis FILE NUMBER 00896 All real property owned solely or as a tenant In common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, netther being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which Is jolntly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH 100 Howard Street, Enola, PA 17025 94,592.63 Sold January 31,2007 HUD Attached TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 94,592.63 REV-1508 EX+ (6-98) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF Nicholas C. Kiritsis FILE NUMBER 00896 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION 1. M&T Bank Checking and Savings Account 2. Refunds PP&L and Verizon 3. Refund Insurance State Fann 4. Cash 5. Sale of 2003 Hyundai Sonata LX 6. Refund of Westfield Insurance 7. Interest 8. Misc. Settlement Fund 9. Retirement Fund 10. IRS 2006 Reimbursement (Anticipated) 11. Refund UGI Utilities VALUE AT DATE OF DEATH 32,598.38 219.27 139.17 1,080.00 5,500.00 162.25 102.31 8.01 47.95 30.00 649.81 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 40,537.15 REV-1511 EX+ (12-99) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF Nicholas C. Kiritsis FILE NUMBER 000896 Debts of decedent must be reported on Schedule I. ITEM NUMBER A. DESCRIPTION AMOUNT 1. FUNERAL EXPENSES: St. Catherine Philoptochos Society Funeral Repast 648.00 B. 1. ADMINISTRATIVE COSTS: Personal Representative's Commissions Name of Personal Representative(s) William C. Kollas Social Security Number(s)/EIN Number of Personal Representative(s) 0.00 Street Address City . State Zip Year(s) Commission Paid: 2. Attomey Fees 9,396.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 35.00 5. Accountant's Fees 0.00 6. Tax Return Preparer's Fees 7. Miscellaneous a. Pennsylvania Department of Revenue 2006 Taxes 3.00 TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 10,082.00 REV-1512 EJ(+ (12-03) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS FILE NUMBER 000896 ESTATE OF Nicholas C. Kiritsis Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. 2. 3. 4. 10. 11. 12. 13. 14. 15. 16. 5. PPL Electric Utilities 1,223.75 Pennsylvania American Water 331.44 UGI Utilities, Inc. 1,749.53 Cingular Wireless 62.60 MCI 148.78 Comcast Cable 142.25 Chase Card Services 172.05 Westfield Insurance 293.25 Clayton Miller Expenses 355.00 Citizen Automobile Finance 4,399.41 Debbie Lupoid, Treasurer 1,389.60 The Water Guy 14.99 East Pennsboro Township 253.00 Medco 55.00 The National Motor Museum Mint 34.98 Kollas and Kennedy - Probate Fees 599.52 6. 7. 8. 9. 11,225.15 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) REV-1513 EX+ (9-00) . COMMONWEAlTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE J BENEFICIARIES ESTATE OF Nicholas C. Kiritsis FILE NUMBER 000896 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. Christopher Kiritsis Nephew 16.6% Remainder 2. Paul Kiritsis Nephew 16.6% Remainder 3. Constantine Wood Nephew 16.6% Remainder 4. Peter Wood Nephew 16.6% Remainder 5. Jonathan Wood Nephew 16.6% Remainder 6. Christopher Chekouras Nephew 16.6% Remainder 7. Tina Beam Child $10,000.00 Outright ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ (If more space is needed, insert additional sheets of the same size)